Russell Investments Group Ltd. Has $6.82 Million Stock Holdings in Grocery Outlet Holding Corp. $GO

Key Points

• Russell Investments Group Ltd. reduced its holdings in Grocery Outlet Holding Corp. by 33.7%, now owning 488,065 shares worth approximately $6.82 million.
• Grocery Outlet's latest earnings report revealed an EPS of $0.23, surpassing expectations, while revenues reached $1.18 billion.
• Analysts have mixed opinions on Grocery Outlet, with a consensus rating of "Hold" and a target price around $16.08, reflecting varying degrees of investment interest.

Russell Investments Group Ltd. trimmed its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 33.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,065 shares of the company's stock after selling 248,114 shares during the quarter. Russell Investments Group Ltd. owned 0.50% of Grocery Outlet worth $6,823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after buying an additional 1,182 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock worth $73,000 after purchasing an additional 3,644 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock worth $91,000 after purchasing an additional 2,034 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Grocery Outlet by 81.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $105,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of Grocery Outlet during the 1st quarter worth $140,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $18.43 on Thursday. The stock's 50-day simple moving average is $14.41 and its 200 day simple moving average is $14.35. The firm has a market capitalization of $1.81 billion, a PE ratio of 263.32, a price-to-earnings-growth ratio of 4.06 and a beta of 0.27. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.Grocery Outlet's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GO has been the topic of several analyst reports. UBS Group increased their target price on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a report on Wednesday, August 6th. Wells Fargo & Company increased their target price on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of "Hold" and a consensus target price of $16.08.

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president directly owned 146,923 shares in the company, valued at approximately $2,820,921.60. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.50% of the company's stock.

Grocery Outlet Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.

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